Trump teases 'Golden Age for the Middle East' under tense ceasefire as oil prices dip – WPDE
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by MATT GALKA | The National News Desk
WASHINGTON (TNND) — Oil prices dipped and stocks climbed after the United States and Iran agreed to a two-week ceasefire, raising hopes that Americans could see relief from high gas prices if the deal holds.
Oil prices fell below $100 a barrel in the aftermath of what was described as a fragile ceasefire between the U.S. and Iran. Stocks also soared in the U.S. and internationally, and many drivers are looking for signs that high prices at the pump could ease.
At the center of the economic uncertainty is the Strait of Hormuz, a key pathway for oil tankers that has been cut off since the start of the war. White House Press Secretary Karoline Leavitt said the administration expected movement to resume quickly.
“We expect that the Strait will be opened immediately, as I said earlier, we’ve seen an uptick of traffic in the Strait,” Leavitt said.
But reports surfaced Wednesday that Iran was closing the Strait less than a day into the ceasefire. Leavitt called that unacceptable.
“That is completely unacceptable, and again, this is a case of what they're saying publicly is different privately,” she said.
Iran’s reported terms in the ceasefire include expanded control over the Strait and the ability to charge fees to ships passing through. Critics say those fees would enrich the Iranian regime.
“There's no doubt that we are worse off today than when Donald Trump and Israeli Prime Minister Bibi Netanyahu started this war. The Strait of Hormuz was open then. Now Iran is clearly established that it can control the Strait and is even talking about charging tolls,” Sen. Chris Van Hollen, D-Md., said.
The BBC reported Wednesday afternoon that passage through the Strait was far from guaranteed. Tankers reportedly received a message that the “Strait of Hormuz remains closed” and ships needed permission from the Islamic Revolutionary Guard Corps before sailing through the strait. The message ended with the warning: “Any vessel trying to travel into the sea will be targeted and destroyed.”
Iran’s U.N. ambassador, Ali Bahreini, said the situation could change depending on negotiations.
“We will go for negotiations to see how serious the other side is. Because of that reason, everything is now temporary. Even the arrangements for the Strait of Hormuz are temporary,” Bahreini said.
President Donald Trump wrote on Truth Social about a new “Golden Age for the Middle East” after saying Iran could start its reconstruction process. Fees from oil tankers are reportedly going to be used for rebuilding.
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